Context and Factual Background:
1. This Petition is an appeal filed under Section 37 of the Arbitration and
Conciliation Act, 1996 (“the Act”) impugning an Order dated October 24,
2024 (“Impugned Order”) passed by the Learned Arbitral Tribunal refusing
to grant interlocutory relief to the Petitioner.
2. The Petitioner, Atul Projects India Pvt. Ltd. (” Atul”) entered into a
Memorandum of Understanding dated November 29, 2014 (” Atul MoU”)
with Respondent No. 1, Nima Developers Pvt. Ltd. (” Nima”) to develop
5,00,000 square feet of residential area on 12.5 acres of land that Nima was
entitled to in Village Marve, Malvani and Aksa (” Subject Land”). The Subject
Land forms part of a larger tract of 100 acres of land (” Larger Land”), which
had been leased to Nima by Respondent No. 2, India Farmers Pvt. Ltd.
